KEMET Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013; Reports Write Down of Long-Lived of $3,358,000 for the Third Quarter of Fiscal 2014; Provides Capital Expenditures Guidance for Fourth Quarter and Fiscal Year Ending March 2014
For the nine months, net sales were $617,845,000 against $624,363,000 for the same period in the last year. Operating loss was $13,004,000 against $20,551,000 for the same period in the last year. Loss from continuing operations before income taxes and equity loss from NEC TOKIN was $43,064,000 against $50,154,000 for the same period in the last year. Loss from continuing operations before equity loss from NEC TOKIN was $47,357,000 against $54,158,000 for the same period in the last year. Loss from continuing operations was $50,319,000 or $1.12 per diluted share against $54,158,000 or $1.21 per diluted share for the same period in the last year. Net loss was $54,056,000 or $1.20 per diluted share against $56,931,000 or $1.27 per diluted share for the same period in the last year. Net cash used in operating activities was $23,036,000 against $44,177,000 for the same period in the last year. Capital expenditures were $24,993,000 against $38,349,000 for the same period in the last year.
The company reported write down of long-lived of $3,358,000 for the third quarter of fiscal 2014 against $3,084,000 for the same period in the last year.
The company announced that it expect capital expenditures for the fourth fiscal quarter ending this March to be in the range of another $6 million to $7 million
For the entire fiscal year capital expenditures to be in the range of $30 million to $32 million.